BOSTON and LONDON, Aug. 13, 2018 (GLOBE NEWSWIRE) -- Orchard Therapeutics, a leading commercial-stage company dedicated to transforming the lives of patients with rare diseases through innovative gene therapies, today announced the completion of an oversubscribed $150 million Series C financing.

Proceeds from the Series C financing will be used to progress Orchard’s three most advanced clinical programs: OTL-101 for adenosine deaminase severe combined immunodeficiency (ADA-SCID), OTL-200 for metachromatic leukodystrophy (MLD) and OTL-103 for Wiskott–Aldrich syndrome (WAS) towards registration and commercialization. The funding will also support the clinical and preclinical development of the company’s rare disease gene therapy pipeline.

“We are thrilled to have such strong support from both new and existing investors in this financing round,” said Mark Rothera, president and CEO of Orchard. “The quality of this investor syndicate is a testament to the confidence we have built among our stakeholders, based on the substantial progress of Orchard’s clinical and preclinical programs since our Series B round last year.”

Elise Wang, Principal at Deerfield Management, said, “Orchard has made an impressive transition from a start-up company to an emerging leader in gene therapy for rare diseases by building a comprehensive, industry-leading portfolio of ex vivo gene therapies and assembling a highly experienced team. We are pleased to have led this round of financing. We believe the company has generated compelling clinical data on products which have the potential to become breakthrough treatments for patients.”

Cowen served as exclusive placement agent for the financing.

About Orchard

Orchard Therapeutics is a fully integrated commercial-stage biotechnology company dedicated to transforming the lives of patients with serious and life-threatening rare diseases through innovative gene therapies.

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